Owens Corning’s Plan of Reorganization became effective On October 31, 2006, marking the company's emergence from Chapter 11.

Owens Corning's Plan of Reorganization is the result of an agreement the company reached in May with key creditors groups. Owens Corning's creditors and shareholders, including asbestos, bondholder and trade creditor classes, as well as bank debt holders, overwhelmingly supported this plan.

The company’s exit financing came from a combination of new equity and new debt financing.